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BRAMBLES TO OFFLOAD INDUSTRIAL SERVICES.

AsiaPulse News

| January 02, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MELBOURNE, Jan 2 Asia Pulse - Logistics group Brambles Industries Ltd (ASX:BIL) will dispose of its northern hemisphere industrial services business for approximately STG133 million ($US230.01 million).

Brambles Industrial Services - Northern Hemisphere (BISNH) operations have been sold to to industrial services company Harsco Corporation, through its MultiServ division.

The sale follows Brambles' divestment of its specialised tank container assets for 89 million euro ($A144 million) in early December - its first sale since it announced plans to divest a big chunk of its businesses.

Analysts have previously estimated Brambles' sale of assets - including waste management division Cleanaway as well as industrial services and other regional businesses - could fetch up to $3.5 billion in total.

BISNH, which provides services to the steel industry, had sales of $US195 million ($A267.86 million) and net assets of million ...

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